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. ' , INSTALLMENT PROMI$SORY NOT£ "
TURTI.E REEF ASSOCIATES, INC. * w Anwu~i R.o~wd s ~'4~'~
. . r/1NK NAME ~~~T ~a none
Jensen 6each , Fl or1 da 33457 unio~~~ s
' tc? oo~~unr sw~,o~ = none
oF ~c A a ~ ~o~ ouw a~~ i;t.~,?;:.~ : none
~e? s none
NOTE NO. a?TEO: ~ 15 ~ .~9 79 ~F~ = none
26 ~ 89 ((3) Anauet Fins~~ad
~UE: ~ , t8__, (A. S, C. O, E, F) i
IHl Inunu t~'~~'
PLACE: , FLORIQA ~^~ti0ation s
IJI OthK i , ~
For wlw r~ttivrd. tM Yfld~ffl~INd (hpNM~tK plNd "MakN") ioi~tly and 1~vKNly (il (K) _
ma~ than on~1 p~omis~ to p~y to tM o~ oi tM B~nk. ~t itt ol/ip larid abow. tM ToW .
ot ~sym~ots Itrom IN) ~t r~tl ot 512+805. ~ pay~ p~y~ M~ j,,Q tU i ~
106.71 ~ IM1 FINANCE CHARGE § 3~9.2Q -
avwl monMb insullmena of = , tM (itst f
msullm~at dw on June 26. , 19~ and wb~NM i~stalimtnts dw on ~H. 1, J. K. l) : i~ _
(N) ToW ot P~yerna iG + M) i
N,~_ 2~day ot~ach~wntn thKaltNLto~t1~ wiM a FINAl8A~~00N PAYpAENT OF: ANNUAL PERC~NTAGE RATE..12-~
s nvn pUE .19
Th~ B~t~k thall irtipo~ a dNinqwncy ehar~ a~irat tht IM~k~? on ~ny p~ymMtt whicb h~t b~eam dw and rtrtyint in dRfsult for a pNiod in ~xpu of 10
days io ~n ~mount pusl to 576 of tM ~nwuet of tM principal p~?t of tM pryrtMnt in ddwlt. In tIN wMt tMt tM Not~ it not psid ie tull ~t nNturity, all pay-
mencs, wMthp p.incipsl. int~rm a otMrwi~, :hall b~sr int~nst ~t tM maximum IpN nc~ ~Ibw~d undM tM Iswt oi th~ Sua of Fb.id~. AI1 p~ym~nq rnad~
nereund~ sA~ll b~ enditW fin[ to intK~t and d~ to prineipN. how~. in tM ~vu~t ot d~fault, tM B~nk may. in ib wl~ disention. ~pply anY payena~t to
~nte.nt, princ~psl sod/w Isrvful chuqM tMn souwd. It is tM intMtion af tM partNt INrato that tM prwisioM Mnin th~ll not Wovid~ dinCtly or indinctly ~
fo? th~ p~Ym~nt ot s yreste. nu of int~rat or tiw nt~ntioa ol ~ny otMr chsrq~ Ma~ ~ albw~d by liw. lf, for arty ~p~on. intenst in ~xqp of tuch Ipd at! or '
a char~t prohibited by Iwv sAsll at any tim~ b~ psid. ~ny weh ~xpts Mall ~ither constitut~ snd b~ tn~t~d ~ s p~yment on tM principal or b~ r~fued~d di?~ctly i
to the Mslca.
Tha INikK msy pnpiy tM sotin unpaid bslanc~ of ~ lo~n st a~y tim~. 11 tM lo~n i~ pnpsid in full, scqlK~t~d a hfin~nc~d. tA~ N4k~r sMll no~iv~ a.
-e~und ot the unwnad pwtioo oi th~ inttrest snd infursnc~ premiunM tomputed by th~ Rul~ of 78's m~tAod, ~xppc ch~i d~ 8snk shN1 D~ MtitNd to nuin ~
a mmimum int~r~st d~xpt oi ~.00. ` ~
CREDIT LtFE AN~ CRE~IT LIFE 8 DISABILITY INSURANCE ARE VOIUNTARY AN~ NOT REQUIREO FOR CREDIT. Sud? insuanu covKape is : ~
available st tM tost daiqnatsd below io~ tM te~m of th~ a~dit: (s1= fw G~dit liit Irqurance (b! S
for Cr~dit lift 8 Dissbility Irqurs~ce_
Check ? Gsdit Life Inwrsnce is desind on tM {ifs of
APP~- Birthdst~
Box ? Gedit Lite~ ~lis~ility Inwrstky is desind on ~
~-+y ~ Birthdst~, ~
L"J Credit Lite and/w Dissbility Inwqnc~ is not detirad. ~ - ;
oat~: . Met.Y 15~ 1979 s~c~.e :.l 1
~
Nndin~ Matar _
Syt?atur~ . _ ; r`~ r ~
As security for the paymmt ot ~he Nou che M~kN Mnby yrants to tM B~nk s~cwi ~ ~ r 17 UP e ee
Cond. I, Recorded an 0. R. Book 2b3, Pa9e 2... Un t N
e s an n on .
! D-2(l, Ant_ Mn_ D-24,, ~s dpsr_ri6~d in sald mnrtsa~e.
i ~nclud~ny ~II intr~ss~s. wbstitutions, t~plac~rtNnri. additions and scpstioru thsreto ~nd in tfis prooeedt thKwi (hK~inaftK plbd "CollatKal"1• Tha ~curity
i ~nterast shall slso sewr~ s~y other intNbHdrnst w liability ol the MMcer to ths Bank dinct or iodinct, sbsolun or continp~nt. dy~ a to b~com~ dw. now ex- ;
~ ~surg o. hensft~r ~risiry, includinp ~d futurt advancK w tw~s by ihe Bank to tM Msk~r.
Ths B~nk is also qvM s litt~ and s s~turity int~nst in all prop~rty and s~auities oi tIN MNcet, endonet, wnty. 9wr~ntor or xcwnrnoditiOn puty of thn .
~ No~e (hKein~ftK r~ferr~d to a tM "Oblgors"1. now in w st ~ny tin?~ ApaftN cominp in~o tM eontrol, prstody o~ po~aion oi ch~ B~nk, wMtMr fw tM ~x-
prtss~d purpos~ ot b~irq uf~d by tM Bsnk ~s Collitual. or for sny otM? pu~pos~. snd upon ~ny btlanet or bdanas to tM a~dit of any ~peounp, includinp
~ crust and ap~ney sooountt msinuined witAth~ 8ank by any ot tht Oblipor~, and tl~e Obligon apr~ to dNiwr to tM Bank sdditional Coll~»ral w mNc~ fud+
~ paymants in r~duction o~ tM prencipsl smount of tM {wn ~s sMlt p~ sstitiactory to the B~nk, 1B thf !VlOt th! ~~OtfflMQtiOMd COII~tHil ffMll d~CI1M IO VNY!
or betorn~ YnsstistactOry t0 tht Bank. . ;
Additioru to. ~rductions o? ex~Aarpes of, p wbatitutions for tM Coll~t~nl. paymena on sooou~t oi thu Iwn or ina~s of tl~e art», o. otha losn~ mad~ ~ i
partislly or wholty upon the Collat~al; m~y fran tim~ to tirr~ b~ rt~ witf~out aifectinp th~ provisions ot tha Not~. Th~ 8ankshNl txertis~ nponabb cxe in
~he custody and praKVation oi th~ Co11~tKa1 to dN ~xt~nt requind by pplicaWs stnute, snd ~1+N1 b~ d~urrd to hw~ ~xKCa~d r~onabl~ un if it qkp wcn
acuon tor tlut purpoa a N4ku ~hsll ?~pon~bly nqw~t in writiny, but no omission to do any set not nquaqd by M~IcK thNl b~ dNnrd a I~dun to ~x~ei~
~easonsbl~ an, ~nd no omisiion to comply with any npwst of M~k~r shall of itaNt be dwmsd a 4ilun to ~xKCise n~son~bb csre. B~nk ~ha11 not be bound to
take eny stps n~a~y to pns~tv~ any riphp i~ tIN Co1lst~rN s~ainst prior pirties arid Malctr fbill tak~ all rwoawy stpt for wth purpofef. TM Bank or its
~ nomin~ nud not coll~et inarat on, o. s prineipal ot, any Co1lstKal or pivt any natiw with n~p~et to it.
TT~~ Bsnk rtry oontinue to hold any Collata~l drpesitNi Mrwrds~ sfte~ the psyment oi this NoU, if at th~ tirrN oi th~ pjymtnt and di~dur~ M~wf any ot
::~e partia liabl~ fo~ tM p~yirrnt hawi ~11 b~ tMn dinedy w eontin~ntly IisW~ to H~ 8ank u M~k~r, ~ndorar, wnty. puarsntw a aocomrnod~t~on psrty
of any otAa nott. drait, bill ot ~xd~rg~, w otMr imtrunwnt. w otherwKe. snd tM Bsnk m~y tMrqft~r ~x~rei~ all riphp with ~yp~ct to s~id Co11~taN
yrant~d hK~in wN+ thouplf Mis NoH shsll bavr b~N~ wrtN~d~nd to th~ IIA~ka. _
It th~ Bank dKm~ itself im~cura or upon th~ happtninp of sny of th~ f~lowinp ~wna, ~scA of which sMlt oonstitua a d~f~ult, all liabiliti~s oE:~ch Mska to ~
The Bank. inttudin~ the ~ntirt unp~id principN oi thh Not~ and aeetwd inqr~tt. las u~y unwrrnd int~rat ~nd any int~rpt in ~xpa ot tlw mlu~um albw~d ~
by law ~nd u+y r~ta r~quind by Nw, ~1 inrr»dimly or cMruitu. ~t tIN option of d+~ B~nR. ~xppt that tM ocewnna oi (e) a(d) dwll ea~N automat-
~ k accel~ration: wiMout notip a denwd, b~oonydw ~nd p~yabl~: Id tM talurtof any ablgpr to p~rfo?m anY obli~tion.li~bility o? dawn to tM dank, to p~y
~ mterett hp~on witAie 1~dsys aftM it it dw, or N dNn is no dw dit~, aftu it is bilbd ot otherwiM rpuat~d or dNrnrdal, or to p~y ~n~/ oNNr Iqbility whst-
~ soever to tM 8ank wMn dw; lb) tM desth of ~ny individual Oblipor, th~ d'a~olution ot arry p~rtnaihip Oblipor or tht diaolution, n~yK a oonsolid~tion wiM•
out tM Bank's prior ri?itt~n Con~nt of any torppraa Obiqor, (e) t1N filino ot s p~tition in b~nkruptty O? tiw sdjudieation of i~loMne.y O? bM1k?uptoy undlr
~ any re~p~nization, arnnyNtrnt. rpdjuttnwnt of d~bt, diuolutiw~, liquitf~tiw~ or fim+hr proCNd'i~g undM any F~rN o~ ttat~ faWt~, by or p~ieft MW
~ Obhqor: (d) an appliqtion fa tM appantm~nt ot ~ notivK fqr, or th~ m~kinq of s yrnaal a~nm~nt for tM b~rnfit of u~ditas b~r. ~ny Obli~or: tM ~nW ,
~ af µ~p~~t a~irNt anY Oblipor: (il tM iswina of any ~tt~chmrnt w~rni~nt, dr 1M filirp of any IiN?, aWinst a+W P~oW?tY o~ ~~1/ Oblpor:19) th~ takirp ot
posssssioo oi any wbsesntiN p~rt of th~ prop~?ty oi any Oblipa K tM in~tana of any pov~~nm~ntN wtbaity: (h1 tM d~t~rmirneioe by tM M~+tc that ~ n~i• !
~ ai advr.q cAsnp~ hs~ oeturnd in tM fitwitiN oad'ition of ~ny Oblpor from t1N tonditiw~ Nt forth in tM mo~t nu~t finaneiN ttsltm~nt of ~ueh Ob1ip. i
~ nere~otw~ turnidwd te eM 8~nk, a from th~ eondition oi weh Oblipa ar h~.~eotwe mae nantly d'ada~d co tM 8ank, a d+~c ~ny w~nancy, rp.~nauon, i
~ ce~ e~f~u a statarrnt of aey Obli~a (wMth~r ooeuimd in lha Noa ar not) DKtsinie0 co w in oonn~etiwi with Mi~ Noa or ch~ lo~n ~vid~ne~d by Mis NeM j
~ ._onuint an untrw aat~nt o/ t~tNiN taet a anitr to ttat~ m~tNia1 tatt t~y in order to nrk~ th~ ttat~Mnts rt~ not miUMdiry: Ot. ti) tM ~Mi~F {
ment by ~ny NNkM ol any pulty in any o/ tM CoilaL~l witAout the priOt wrimn coeMnt of tM B~nk. ~
~ TM Bank ~hsJl h~a, but ~MII not b~ limis~d to. tM followino riphts, aeh of wbioh ~n~y b~ ~x~reiMd st sny tim~ wlNtMr a not this NoM ii dw: li) to ~
pl~dp~ a tnmfa tha Noa and tM CoIt~N ~nd tM 8ank dwll d~awpon b~ rtli~n~d ot dl dutiM and nlponsibilitia Mrwnde? and rNi~w~d han any ~nd MI ~
11abi1ity wid~ rNp~et to any Cot1~tKN w pbd~d Or tnmt~rrsd. ~nd any pl~d~ or tnraf~rM ~hMl for aN purpot~ ttand in tM plsa~1M ~ank Iwwnd~? ~nd
hsv~ slt tM ri~?ts ot dw Bank Mr~und~: (ii) to tpndu eM whob a any p~rt of tM Collabral iew tht n~rnt of ibNi or iq nomin»: (IIf1`to~w» th~ CoNstwN: i
l~v) to notity th~ Oblipon ot aMr Collat~?N to m~lc~ paynwnt to tM 8rnk of any amounts dw ar to b~canw dw ch~r~: (v) to dwmnd. rw for. oo11Kt, or
mske ~ny oor~w. ~ Rr ~tct~nwnt it wiM K w dN tu~l: vi) to • o? 01 of ocMdt ot Coltatad. ~
'~NK as used ~re~n m~eans ~ur~e Ree~~ssoc~a~es, `~`n~° en~/orOO~~s a~igns. ~
NOTICE: SEE OTHER SIDE fOR IMPORTANT INFORMATION ~
Fes ~st a.~. ~in nR ti
~Q~3i2 p~~E 84~
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